In a global context marked by increasing rivalries between major powers, Africa emerges as a key region for the future of the world economy. With its demographic dynamism, strategic resources, and growth opportunities, the African continent has become an essential investment destination. However, U.S. engagement in Africa remains insufficient. Morocco, due to its geographical position and role as a regional leader, can play a decisive role in facilitating and strengthening U.S. investment in Africa.
Africa: A Continent Full of Opportunities
A colossal economic potential
By 2050, Africa will host 2.5 billion people, making it the fastest-growing continent in terms of population. This demographic explosion is accompanied by the rise of a middle class, expected to reach 1.7 billion consumers by 2030.
Economically, the cumulative GDP of African economies could exceed $6 trillion by the end of this decade, offering vast opportunities in sectors such as agriculture, infrastructure, digital technologies, and renewable energy.
Strategic resources
Africa holds 30% of the world’s mineral reserves, including key materials such as cobalt, lithium, and copper. These resources are vital for U.S. industries, particularly for the production of electric vehicles and batteries.
With its vast agricultural lands, Africa also has the potential to become a global agricultural hub, meeting the growing food demands of the world.
Increasing competition
While China has consolidated its position as Africa’s largest trading partner, the U.S. lags far behind. In 2022, Sino-African trade reached $282 billion, compared to just $44.9 billion in U.S.-Africa trade.
Russia is also increasing its presence in Africa, particularly through strategic alliances in security and trade. This competition forces the U.S. to rethink its strategy toward the continent.
U.S. Investments in Africa: A Need for Intensification
Existing initiatives, but insufficient
The U.S. has launched several programs to encourage investment in Africa, such as the African Growth and Opportunity Act (AGOA), which provides preferential access to the U.S. market for African exports.
The Prosper Africa program, launched in 2019, aims to double bilateral trade and investment. However, its impact remains limited compared to China's massive investments in key infrastructures such as ports, railways, and roads.
Structural challenges
U.S. companies face obstacles in Africa, such as inadequate infrastructure, political instability in certain regions, and complex regulatory frameworks. These factors hinder direct economic engagement.
The perception of high risk also deters private U.S. investors, despite the continent's growing economic resilience.
Morocco: A Strategically Positioned Partner
A natural bridge between Africa and the West
Situated at the crossroads of Europe, Africa, and the Atlantic, Morocco benefits from an exceptional geographical location as a commercial and logistical hub. The Tangier-Med port, the largest in Africa, is a notable example of this global connectivity.
A key player in Africa
Morocco has made significant investments in Sub-Saharan Africa in sectors such as banking, telecommunications, infrastructure, and fertilizers. These strategic investments have strengthened bilateral relations with several African countries, positioning Morocco as a leader in South-South cooperation.
In addition, Morocco has signed numerous free trade agreements, particularly with the European Union and the United States, facilitating access to global markets.
A model of stability and sustainable development
In a region often marked by political tensions, Morocco stands out for its institutional and economic stability. It is also a pioneer in the energy transition, with flagship projects such as the Noor solar complex.
Morocco's Role in the U.S.-Africa Strategy
- A logistical platform for U.S. companies
Moroccan free zones, such as those in Tangier and Casablanca, offer an ideal fiscal and logistical environment for U.S. companies looking to establish themselves in Africa.
By using Morocco as a regional base, U.S. companies can reduce risks and leverage Moroccan expertise in managing African partnerships.
- Facilitating trade relations
Morocco, with its strong diplomatic ties and African integration, can act as an intermediary to help U.S. businesses overcome cultural and regulatory barriers.
- Collaboration on tripartite projects
Morocco and the U.S. could launch joint projects in Africa in strategic sectors such as smart agriculture, digital infrastructure, and green energy. These initiatives would strengthen bilateral relations and their influence in Africa.
- A trusted geopolitical ally
As a historic partner of the U.S., Morocco shares common values such as transparency, sustainable development, and regional stability. Therefore, it is a strategic ally to counter the growing influence of China and Russia in Africa.
Recommendations for Strengthened Collaboration
- Create a U.S.-Morocco-Africa investment fund to finance infrastructure and sustainable energy projects on the continent.
- Expand bilateral agreements between the U.S. and Morocco, particularly to promote technological innovation and knowledge transfer.
- Encourage public-private partnerships: Facilitate collaboration between U.S., Moroccan, and African companies to maximize synergies.
- Develop educational and technological initiatives to train a skilled workforce that meets the needs of U.S. businesses in Africa.
- Leverage Morocco's leadership in the energy transition to support African projects aligned with global climate goals.
Conclusion
For the United States, an ambitious commercial collaboration with Africa represents a significant strategic and economic opportunity. By partnering with a trusted ally like Morocco, the U.S. can strengthen its presence on the African continent while promoting sustainable and inclusive development. This tripartite partnership is an effective response to global challenges and an opportunity to build a prosperous future for all parties involved.
Source of the article: Aïssa Christophe Agostini
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